Online loans and credit cards have the following different characteristics:
I. Comparison of application thresholds
Online loan: On the threshold of application and use, online loan is relatively low, and the conditions for review are very wide. For some applicants or college students with poor qualifications, the probability of getting a card is still quite large. Therefore, compared with applying for a credit card, the threshold of online lending is relatively low, and it is more favored by some people.
Credit card: Credit card application procedures are complicated and the review mechanism is strict. It is inevitable for applicants with unqualified qualifications or biased information to refuse the card. However, compared with online loans, credit cards will have a larger quota, much more than online loans, which is more suitable for long-term use and has a larger quota.
Second, the comparison of ease of use
Online loan: Many people say that the current online loan or the quota of some shopping platforms is very convenient to use, and food, clothing, housing and transportation can be solved on it. It is enough to take only one mobile phone when going out, without wallet and bank card. In particular, e-commerce companies are now cooperating, not only unilaterally, but also on many platforms, which is quite convenient.
Credit card: In fact, the use of credit cards is also very convenient now, not only in the form of swiping cards, but also by linking social tools on mobile phones for payment, so not having a card does not necessarily mean that you can't use credit cards for consumption. Moreover, many credit cards have many discounts and concessions on credit card spending, which can save a lot of money.
Third, the comparison of credit problems.
Online lending: General formal online lending and various consumer loans are all included in the scope of credit reporting, so online lending is not a place of extra-legality, nor is it a hotbed of Lao Lai. However, there is one drawback. There are too many online loans. In the eyes of banks, they are not high-quality customers, and the debt ratio will be a bit high.
Credit card: Credit card has always been the main observation index in credit reporting. Cardholders with good reputation and large amount of credit will be more popular with banks.
Fourthly, the interest comparison of installment payment
Online loan: The interest rate of most online loans is higher than that of banks. Because it is easier to apply than banks and the relative loan interest rate is relatively high, almost all online loans have no interest-free period. If they are overdue, the interest rate is higher.
Credit card: every bank's credit card has an interest-free period, that is, repayment during the interest-free period is free of any interest, which is much more close to the people than online lending. However, it should be noted that it is necessary to give some money to the bank from time to time and make some installments, so that it is easy to raise the amount.